NEWS
ISSAN Seeks Closer Collaboration with EFCC on Cyber Security
Abuja, May 18, 2024 – The Information Security Society of Africa – Nigeria, ISSAN), has called for stronger and closer collaboration with the Economic and Financial Crimes Commission, EFCC in safeguarding the cyber space for more effective fight against internet fraud and other financial crimes in Nigeria. This call was made in Abuja by ISSAN’s Vice President, Dr. Martin Ikpehai when he led a three-man delegation on a courtesy visit to the EFCC’s headquarters. According to him, the EFCC is doing a great work in putting a stop to cybercrimes. He called for a more sustainable approach towards taking over cyberspace from internet fraudsters. “Now, every business is conducted on digital space and as businesses are on cyber space, criminals are chasing them online. “One important thing we have come to realise is that the EFCC, being a crime fighter, has done so much in this aspect of crime, especially fighting crime in the digital space and we are happy about it. We are also happy to fight this crime and to let you know that there should be synergy between our organisation and the EFCC”, he said.
He expressed surprise at the prevalence of “yahoo schools” across the country, pointing out that such an anomaly demanded enhanced cooperation with ISSAN. “EFCC is discovering yahoo schools in Nigeria and it surprises us that there are schools created to teach people to learn cybercrimes, that is why we have come to let you know that you should collaborate with us so that we can work hand in hand”. He further explained that cyber security is so important that security officers of key institutions are working closely with ISSAN. The Society, he says, offers a platform to teach secondary school children and University students and Nigerians in general about cyber security in schools and how to defend and safeguard against cyber- bullying, cyber-stalking and other forms of cyber security challenges. He commended the EFCC on its Eagle Eye app, describing it as an excellent device in achieving success in the fight against internet fraud. Responding, Executive Chairman of the EFCC, Ola Olukoyede appreciated ISSAN for its focus and mandate. He stated that the EFCC greatly valued efforts geared towards cyber security and assured of better collaboration with the Society. “We have a lot to do on cybercrime and security as it were and that is what we do. We must engage all stakeholders and ensure that we take drastic measures to stop criminals in cyberspace. “The more we come together, the better for the country to prosecute the war on cybercrime and security”, he stated.
He assured that the EFCC would always be ahead of cyber criminals, maintaining that “if crime is technology driven, the approach to fight it should also be technology driven”.
It would be recalled that the ISSAN Industry Roundtable had made a case for a’ Nigerian Identity’’ System. According to the association the Integrated Identity Management System to be called ‘’The Nigerian Identity’’ would have international passport, phone number, BVN belonging to one individual grafted onto one composite interconnected file to easily detect and track perpetrators of cybercrime. They called for regular update of regulatory guidelines and improved collaboration between the financial sector regulators, industry operators and Nigeria Inter-Bank Settlement System Plc (NIBSS) to effectively manage emerging risks and achieve a secured digital ecosystem that facilitates safer transaction processing and customer experience.
Dr David Isiavwe, ISSAN President, stated the need for industry operators, law enforcement agencies and financial sector regulators to ensure they are steps ahead of the activities of cybercriminals. According to him, “the cybersecurity space is constantly evolving. As the cybercriminals do not sleep or relent, operators and regulators have a duty to not also sleep. Indeed, the protection of the cyberspace is the responsibility of all stakeholders”.
Dr. David Isiavwe also noted that financial institutions have a critical role to play in the future of financial services, noting that the more they innovate, the more they need to automate the attendant controls and ensure that they are strictly monitored.
ISSAN is a not-for-profit organization dedicated to the protection of Nigeria’s cyberspace. It is also significantly involved in ensuring the security of Banking Systems. It also provides a platform for information, collaboration, and ideas exchange for a safer payment ecosystem.
NEWS
Wema Bank’s One-Day MD/CEO, Chinmamanda Ozoakpata, Unveils New Benefits for Children
At Wema Bank, we have spent the last few years reimagining what Children’s Day can look like for Nigerian children.What started as a celebration has evolved into an intentional platform designed to build confidence, encourage leadership, promote financial literacy and create meaningful opportunities for children across different age groups.This year, we have raised the bar even higher. At Wema Bank’s Children’s Day Special Event held on Monday, May 25, 2026, our One-Day MD/CEO, Chinmamanda Diamond Ozoakpata, used her first official act in office to unveil a series of new initiatives designed to reward, educate and empower children through our Royal Kiddies account and ALAT Xplore platform.From year-long cash rewards and celebrations of academic excellence to financial literacy materials and STEM challenges, here are the new incentives that were announced and how to qualify:1. Birthday Cash Gift (Royal Kiddies Account Holders)Wema bank is putting real money behind milestone birthdays. Active Royal Kiddies account holders turning 5 will receive ₦5,000, while those turning 10 will receive ₦10,000 automatically, as a birthday cash gift. The initiative runs from May 2026 to May 2027. Importantly, active account holders who already turned 5 or 10 before May 2026 this year will also receive their reward this month.To qualify: Your child must hold an active Royal Kiddies account and be turning (or have turned) age 5 or 10 within the qualifying window.2. ₦100,000 Reward for Top Common Entrance Students (Royal Kiddies Account Holders)In a move that directly ties financial reward to academic achievement, Wema Bank will reward the top 100 students in the National Common Entrance Examination (NCEE) with ₦100,000 each. This initiative commences in June 2026.To qualify: Your child must be among the top 100 performers in the NCEE and hold a Royal Kiddies account.3. Financial Literacy Book Launch – Money Adventures (Royal Kiddies Account Holders)Wema Bank officially launched Money Adventures, a financial literacy book created for children aged 6 and above, at the Children’s Day event. Designed to make money conversations simpler and more engaging for young readers, the book introduces children to foundational concepts around saving, money management and responsible financial habits in a fun, age-appropriate way. To qualify: To receive a copy of this book, your child must hold an active Royal Kiddies account or have their Royal Kiddies account newly activated.4. Evolve School Tour STEM Challenge (ALAT Xplore Account Holders)The Bank also unveiled the Evolve School Tour STEM Challenge. Designed for secondary school students aged 13–17, the programme will run across six schools nationwide with existing STEM programmes. Through hands-on STEM competitions and school engagements, the initiative aims to promote innovation, technology awareness, financial literacy and responsible savings culture. There will also be monetary prizes to be won at the end of the challenge.To qualify: Your child must be an ALAT Xplore customer, aged 13–17, and attend one of the participating schools with an active STEM programme.Over the last four years, Wema Bank has consistently treated Children’s Day as more than a calendar moment. From the One-Day MD/CEO initiative to school tours, leadership experiences and child-focused financial literacy campaigns, the Bank has continued to expand how it supports children meaningfully.Yet, this is the first time the bank has included a Children’s Day initiative that runs for an entire year. Combine that with a six-figure academic reward, a published financial literacy resource, and a nationwide school tour, and it becomes clear: this is the most comprehensive, most impactful package of benefits Wema Bank has ever delivered to its youngest customers. It signals a growing commitment by Wema Bank to create experiences for children that extend far beyond celebration and leave a lasting impact long after Children’s Day is over.
NEWS
Zamfara State Approves Enhanced Pension Payouts for Retired Public Workers
In a decisive move aimed at alleviating the economic burdens of retired public servants, Zamfara State Governor, Dr Dauda Lawal, has officially approved increased monthly pension payments for all former workers from both state and local government offices. The approval follows an extensive financial review of retirees’ living conditions, with particular attention to those in lower-income brackets who have been disproportionately affected by the prevailing cost-of-living crisis.The decision was precipitated by the findings and recommendations of a special committee empaneled to evaluate the welfare situation of pensioners across the state. The committee’s report highlighted acute financial distress among aging retirees and called for immediate remedial action. In response, the state government has authorized a substantive upward adjustment in monthly pension stipends.This increment aligns seamlessly with the Federal Government’s Minimum Wage Act of 2024, which explicitly recommended an additional monthly sum of at least N32,000 for pensioners. Governor Lawal has opted for full implementation of this advisory for all retired state and local government employees a policy intervention expected to benefit thousands of households across Zamfara. The state government has subsequently issued binding directives to all relevant agencies to ensure the expeditious and seamless disbursement of the enhanced payments without procedural delays.Speaking on the development, the Honorable Commissioner for Information and Culture, Mahmud Muhammad Dantawasa, characterized the policy as a tangible demonstration of Governor Lawal’s unwavering commitment to improving the quality of life for both active and former government workers. According to the Commissioner, the administration operates on the principle that dignified retirement includes access to basic necessities and financial comfort. Beneficiaries across all local government areas have been assured of prompt payment once implementation commences.
NEWS
Expert praises Trump’s US Security Strategy for Africa: Surgical strikes with local cooperation
Executive Producer of the Pan-African podcast Panel 54, Martin Minns, has thrown his weight behind US President Donald Trump’s short-term targeted campaigns and closer cooperation with local authorities in the fight against terrorism.In a statement endorsing the US Security Strategy for Africa, Minns described the approach as a sharp departure from past policies centred on long-term troop deployments and expansive nation-building efforts. He praised the new strategy for rejecting open-ended interventions and governance reconstruction in favour of a more focused counterterrorism model.Minns said the strategy adopts a surgical approach to counterterrorism worldwide, emphasising targeted campaigns with clear timelines and specific objectives. Under this model, US troop deployments will be tied to definite targets aimed at eliminating threats, followed by swift withdrawal.He explained: “In President Trump’s words, the policy marks ‘a return to commonsense and peace through strength’, while rebuilding bilateral counterterrorism relations with African governments.”Citing the strategy’s two clear goals, Minns noted: “One goal is to ensure no jihadist groups can establish bases of operation enabling them to plot and execute attacks against the United States or any US interests globally.” The second goal, he said, is “to protect Christians from attack by jihadist groups.” He added that the strategy also broadens the definition of “terror merchants” to include drug cartels and left-wing “anarchists.”The statement further highlighted that the US has directed its anti-terror operations in Africa primarily through US Africa Command (AFRICOM), based in Stuttgart, Germany. From there, it has supported the African Union forces in Somalia (AUSSOM) in collaboration with military forces from Kenya, Uganda, Ethiopia, and Djibouti through aerial raids backing ground operations against al-Shabaab.US officials have also intensified collaboration with Sahelian countries Burkina Faso, Mali, and Niger, which remain at the epicentre of extremist violence on the continent. Meanwhile, a recent surge of violence involving Russian mercenaries has prompted a renewal of ties with Washington. Warming relations have similarly been noted with Eritrea, given its strategic position in the Horn of Africa.The strategy states: “We will continue to work together with governments threatened by groups like ISIS and al-Qaeda affiliates who threaten us as well, and assist them with actionable intelligence and CT partner-force development until our shared foes no longer pose a serious threat to either them or us.”Outside Africa, the US policy accuses China, Russia, and Iran of sponsoring terrorism by aiding and abetting extremist groups in acquiring arms.In Nigeria, security challenges have escalated sharply. In November 2025, President Bola Tinubu declared a nationwide security emergency following a wave of mass kidnappings that saw hundreds of schoolchildren abducted in a single week. In February this year, he deployed an army battalion to the Kaiama district in Kwara State after suspected jihadist fighters killed 170 people in an attack on Woro village on the border with Niger.On March 17, triple suicide bombers believed to be Boko Haram militants killed 23 people and wounded more than 100 in a busy market in Maiduguri. Boko Haram and its rival, Islamic State West Africa Province (ISWAP), have intensified attacks in northeastern Nigeria. Their insurgency has killed over 40,000 people and displaced around two million.In February, The Economist reported that the United States had dispatched a counterterrorism team to Nigeria. Last week, Nigeria’s National Security Adviser, Mallam Nuhu Ribadu, concluded a three-day working visit to Washington, where he held meetings with senior US officials, including Vice President JD Vance and Secretary of State Marco Rubio.The official communiqué described the meetings as an opportunity to review Nigeria-US relations and strengthen collaboration in counterterrorism, defence, intelligence sharing, regional security, economic resilience, and democratic governance. Ribadu later emphasised the importance of sustained cooperation with the US and international partners to address security threats across West Africa and the Sahel.
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